Laserfiche WebLink
RESOLUTION NO. 2013- 082 <br />A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA AUTHORIZING THE REDEMPTION <br />AND PAYMENT OF A PORTION OF THE COUNTY'S OUTSTANDING <br />SPRING TRAINING FACILITY REVENUE BONDS, SERIES 2001; <br />AUTHORIZING THE USE OF GENERAL FUND RESERVES IN THE <br />AMOUNT OF $2,275,000 TO PAY DOWN THIS DEBT; AUTHORIZING THE <br />PROPER OFFICERS OF THE COUNTY TO DO ALL ACTS NECESSARY <br />AND PROPER FOR CARRYING OUT THE TRANSACTIONS <br />CONTEMPLATED BY THIS RESOLUTION; AND PROVIDING FOR AN <br />EFFECTIVE DATE. <br />WHEREAS, the Board of County Commissioners of Indian River County, Florida (the <br />"County") has determined that it is in the County's best interest to redeem and pay off a <br />portion of the County's outstanding Spring Training Facility Revenue Bonds, Series 2001 (the <br />"Series 2001 Bonds") maturing on or before April 1, 2021 from available moneys of the <br />County; and <br />WHEREAS, the County issued its Series 2001 Bonds pursuant to Resolution No. <br />2001-072 adopted by the County on August 7, 2001, as supplemented from time to time, and <br />as particularly supplemented by Resolution No. 2001-073 adopted by the County on August <br />71 2001 (collectively, the "Bond Resolution"); and <br />WHEREAS, the County desires to optionally redeem $2,275,000 in principal amount <br />of the outstanding Series 2001 Bonds on their first optional redemption date for which proper <br />notice may be given; and <br />WHEREAS, the County has legally available cash on hand to redeem the Series <br />2001 Bonds. <br />BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN <br />RIVER COUNTY, FLORIDA: <br />SECTION 1. FINDINGS OF FACT. The County hereby finds, determines and <br />declares the matters hereinabove set forth. <br />SECTION 2. AUTHORITY FOR THIS RESOLUTION. This resolution is adopted <br />pursuant to Chapter 125, Florida Statutes, the Bond Resolution, and other applicable <br />provisions of law. <br />SECTION 3. AUTHORIZATION TO DEFEASE A PORTION OF THE SERIES 2001 <br />BONDS. The redemption of $2,275,000 of outstanding Series 2001 Bonds which mature on <br />or before April 1, 2021 on or before October 1, 2013 at a redemption price equal to the <br />principal amount to be redeemed plus interest accrued to the redemption date is hereby <br />authorized. The County Administrator is hereby directed and authorized to direct the Paying <br />Agent for the Series 2001 Bonds to give notice of the redemption of the Series 2001 Bonds <br />to DTC and the bondholders of such redemption and to select the maturities of the Series <br />2001 Bonds to be redeemed. <br />1 <br />